Amalgamated Bank Purchases 325 Shares of FedEx Co. (NYSE:FDX)

Amalgamated Bank grew its position in FedEx Co. (NYSE:FDX) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,247 shares of the shipping service provider’s stock after buying an additional 325 shares during the period. Amalgamated Bank’s holdings in FedEx were worth $15,747,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of FedEx by 11.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after acquiring an additional 13,197 shares in the last quarter. Western Wealth Management LLC raised its holdings in FedEx by 10.0% during the 4th quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after buying an additional 333 shares during the period. Trust Point Inc. bought a new position in FedEx in the fourth quarter valued at approximately $282,000. Planned Solutions Inc. acquired a new position in shares of FedEx in the fourth quarter valued at approximately $32,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of FedEx by 2.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock worth $157,660,000 after acquiring an additional 13,642 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Frederick W. Smith sold 113,400 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is owned by company insiders.

FedEx Stock Performance

FDX traded down $1.37 on Friday, reaching $260.66. The company had a trading volume of 1,085,097 shares, compared to its average volume of 1,967,710. The company’s fifty day moving average is $263.93 and its 200 day moving average is $254.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a market cap of $64.14 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.23 and a beta of 1.23. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 earnings per share. As a group, analysts predict that FedEx Co. will post 17.69 earnings per share for the current fiscal year.

FedEx announced that its board has authorized a stock buyback program on Thursday, March 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the shipping service provider to repurchase up to 7.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were paid a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.93%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research reports. BNP Paribas reaffirmed an “underperform” rating and issued a $250.00 price objective on shares of FedEx in a research report on Wednesday, March 27th. Robert W. Baird boosted their target price on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Morgan Stanley boosted their price objective on shares of FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Finally, UBS Group increased their target price on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $301.33.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.